The required professional and ethical pronouncements of accountants mean that auditors need to be competent and exercise due care and skill in the performance of their audits. In this study, we examine what happens when auditors take on more clients than they should, thus raising doubts about their ability to maintain competence and audit quality. Using 2803 observations of Malaysian companies from 2010 to 2013, we find that auditors with multiple clients are associated with lower earnings quality, proxied by total (...) accruals and discretionary accruals. Our results demonstrate that associating client firms’ reported discretionary accruals with individual auditors, rather than their firms or offices, is important in determining audit quality. Moreover, we demonstrate that the disclosure of auditors’ signatures on their reports is useful for assessing auditor quality at the individual level, thus contributing to the debate on the usefulness of having auditor identities on reports. (shrink)

The required professional and ethical pronouncements of accountants mean that auditors need to be competent and exercise due care and skill in the performance of their audits. In this study, we examine what happens when auditors take on more clients than they should, thus raising doubts about their ability to maintain competence and audit quality. Using 2803 observations of Malaysian companies from 2010 to 2013, we find that auditors with multiple clients are associated with lower earnings quality, proxied by total (...) accruals and discretionary accruals. Our results demonstrate that associating client firms’ reported discretionary accruals with individual auditors, rather than their firms or offices, is important in determining audit quality. Moreover, we demonstrate that the disclosure of auditors’ signatures on their reports is useful for assessing auditor quality at the individual level, thus contributing to the debate on the usefulness of having auditor identities on reports. (shrink)

Since time immemorial, Lord Jagannātha has been regarded as the principal deity of Odisha. The land of Odisha (former Kaliṅga) was a meeting place of the Hindus, Buddhists and Jainas. The Buddhists, Jainas, Vaiṣṇavas, the worshippers of Gaṇpati and others came to Purī and found the presence of their own lord in Jagannātha. However, of all religious creeds, Buddhism played an important role in the socio-cultural history of Odisha. During the period of emperor Aśoka, the Śabaras (a tribal people) of (...) Odisha were converted to Buddhism. Buddhist pillars were built in Purī, and Buddhist symbols were carved into it. Later on, the Śabaras started worshipping the Triratna as the three principal deities of the Jagannātha temple. In course of time, the three deities of the temple, viz. Jagannātha, Baḷabhadra and Subhadrā, have been accepted by the people of Odisha as the symbols of Buddha, Dharma and Sangha, respectively. As stated by Donaldson (Iconography of the Buddhist sculpture of Orissa, Abhinav Publications, Buldana, 2001), the eighteenth century Buddhist works such as “Jñānasidhi” and “Prajñodaya-Viniścaya-Siddhi,” the Buddha was named as Lord Jagannātha. By the twelfth century A.D., there had already developed a new culture in Odisha with Jagannātha as the center and the Lord came to be conceived as Ādi Buddha and Buddha as the ninth incarnation of Viṣṇu-Jagannātha. The place of Purī has been regarded as a place of Tāntric worship and Jagannātha as the Lord of the Tāntric cult. The Gundichā temple (where the Lord resided for 10 days during the Car festival) has been regarded as a Buddha Vihāra. The Buddhist principle of nonviolence and universal brotherhood found its best expression in the Jagannātha cult. (shrink)